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warren buffett when it comes to investing. but, but you got to know your strength and you got to know your weaknesses. that said, i wouldn't take ping-pong lessons from mr. buffett. take a look here. here is another thing i wouldn't do. i wouldn't listen to the oracle of omaha on this. >> ♪ i've been working on the railroad all the live long day ♪ ♪ i've been working on the railroad just to pass the time away ♪ ♪ dinah won't you blow ♪ dinah won't you blow your horn ♪ [ laughter ] >> eric: so now warren buffett wants to weigh in on taxes. politics and americans need to hand over more of our dough. mr. buffett, oh, sage one. put down the ping-pong paddle and the ukulele and the tax plan. the gift is with profit margins, ebidah. the man, fantastic investor, but he is suggesting a minimum tax, to raise etch's wealth. wealthy people's taxes to trickle down to everywhere else. i can't imagine the economy can handle that. >> dana: i have very little patience for the extremely rich who want to make it harder for other p
warren buffett when it comes to investing. but, but you got to know your strength and you got to know your weaknesses. that said, i wouldn't take ping-pong lessons from mr. buffett. take a look here. here is another thing i wouldn't do. i wouldn't listen to the oracle of omaha on this. >> ♪ i've been working on the railroad all the live long day ♪ ♪ i've been working on the railroad just to pass the time away ♪ ♪ dinah won't you blow ♪ dinah won't you blow your horn ♪ [...
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Nov 27, 2012
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. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you know, he was the one that in a way started all this, susan, because he talked about he shouldn't pay a lower tax rate than his secretary. now he's saying that taxes should rise, maybe for people making over $500,000 a year. a lot of republicans loved him for his business sense, but have they stopped listening to him now? >> well, and of course, if you raise the minimum tax on millionaires, i think americans would be all for that. the trouble is, it doesn't really raise you enough money, not the kind of money we're talking about. and even going down to $500,000, the reason that the level's been set at $250,000 per household by the w
. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you know, he was...
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you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax for rich people. >> a combination of those two. we've got a lot more to talk about with you. monday night football highlights the eagles showing they don't need michael vick to lose a football game. will coach andy reid survive another week? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. fre
you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax...
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warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered by retailers on black friday. worries about the fiscal cliff, greece of combining for a market that pretty much went nowhere today. the dow jones industrials down 42. as into down treatment nasdaq rose ten. the sixth day in a row in which the nasdaq has gained. light trading on the big board. concerns about increases in taxes on dividends for the high-yield dividend stocks of late. today at&t and verizon down, both with dividend yields of just about 5%. most retailers lower on the day despite good news on the holiday shopping weekend. target and walmart among
warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered...
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Nov 26, 2012
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most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans listen? >> well, it's a sensible way. if we're going to have a deal, we will have to see some kind of compromise. a minimum tax on people making over $1 million a year can generate a half it trillion in a ten-year scale. if you include deductions you don't necessarily have to go to 39%. you can go to 37% if you are looking for compromise. but i think there's a bigger issue here as well, and that is the idea this is a slightly critical towards the democrats, the biggest issue that this country faces right now is getting us back to 4% economic growth, 3% or 4% economic growth and seeing wages increa
most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans...
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with all due respect to warren buffett, a boost to the middle-class is raising tax rates on the rich? >> sean: why don't they give it to the government if they think it's a moral imperative? >> i don't know what he's trying to drive in this country right now. businesses are unwilling to spend, capital expenditures are down, people are unwilling to hire. the level of uncertainty in this country is downright scary. >> that's right. it's not going away anywhere soon. we're changing the face of america, and so now it's about the equality of outcome, that we need to level and equalize everybody. that's what occupy wall street is all about. that's what president obama is all about. >> sean: one analogy, almost like you have two parents representing the two parties. one party says you can play all the xbox you want, endless tv, you don't have to do your homework. the republican party says we got to balance your budget, eat your spinach and broccoli, turn off the tv and do your homework. if i'm a kid, i want the xbox. >> that's right. >> in obama's final term, we have to know how he'll define
with all due respect to warren buffett, a boost to the middle-class is raising tax rates on the rich? >> sean: why don't they give it to the government if they think it's a moral imperative? >> i don't know what he's trying to drive in this country right now. businesses are unwilling to spend, capital expenditures are down, people are unwilling to hire. the level of uncertainty in this country is downright scary. >> that's right. it's not going away anywhere soon. we're...
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warren buffett. basically this artificial deadline is not a cliff. it is a slope. the bottom line is we've got to get a good deal. something that is sustainable and durable and not hit the panic button and then try to spin what is a bad deal as a good deal because that won't be sustainable after january 1st. >> eliot: that's not only correct on substance. unless we say that, the other side will stick us up and hold us to the deadline and get us to flinch at the end which unfortunately has been the history of the white house in the last couple of years. your wisdom there, i hope they're listening loud and clear to you congressman. >> thank you. >> eliot: congressman peter welch, democrat from vermont thank you for your time. >> thanks, eliot. >> eliot: for more on grover norquist apparent diminishing influence, i'm joined by lobbyist jack abrom off the author of "capitol punishment." jack, thank you for joining us. >> thanks for having me. >> eliot: look, are you dealing and are you a defender of grover norquist but you must admit there is a new reality taking hold
warren buffett. basically this artificial deadline is not a cliff. it is a slope. the bottom line is we've got to get a good deal. something that is sustainable and durable and not hit the panic button and then try to spin what is a bad deal as a good deal because that won't be sustainable after january 1st. >> eliot: that's not only correct on substance. unless we say that, the other side will stick us up and hold us to the deadline and get us to flinch at the end which unfortunately has...
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coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ] for everything they need to hear, there's a hallmark card. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ man ] and what did you think? i loved it. why? 'cause it's a toyota, of course! i want a car that's gonna last me for a little while. ♪ i like the bells and whistles. that's my favorite part about the car. i like the navigation. i like the entune. and it's fast. [ male an
coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ]...
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warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. okay, that looks great... [ camera flash ] were you profitable last m mont? how much money is in your checking account? have the browns paid you for their addition yet? your finances are scattered all over the place. what are your monthly expenses? you keep your receipts in plastic baggies? seriously? [ announcer ] get it done and get it off your mind... with quickbooks. organize your small business finances... all in one place. quickbooks pulls in information from other sources. evennline banking and customer information. visit tryqckbooksfree.com today to start for free. and now your business can be at your fingertips, anywhere, with the convenient mobile app. from creating customized invoices, to tracking sales and expenses, quickbooks can help you manage... every detail of your business. and at tax time, all your records... will be automatilly organized and ready to go, saving you time on prep work. quickbooks, guaranteed easy or
warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. okay, that looks great... [ camera flash ] were you profitable last m mont? how much money is in your checking account? have the browns paid you for their addition yet? your finances are scattered all over the place. what are your monthly expenses? you keep your receipts in plastic baggies? seriously? [ announcer ] get it done and get it off your mind... with quickbooks. organize your...
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but if you're a long-term investor -- remember, warren buffett is very bullish on u.s. stocks because he believes in company. this could be a buying opportunity because things have drop add lot. >> well, stephanie, speaking of warren buffett hr, he had an op, sort of laying the idea that the've wealthy would throw a hissy fit, would not invest if they were to increase a couple of points. he wrote, so let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gaines rates and yord nan income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. why is there such a hang-up even to the point that republicans have signals willingness to find revenue in other places as lodge as they do not actually increase the rates? >> i think the hang-up is broader than that. and what mr. buffet is asking for simplicity. as far as investors go, they simply want things to be resolved because again unless there's clarity in the future, you're just not going to see much happenin
but if you're a long-term investor -- remember, warren buffett is very bullish on u.s. stocks because he believes in company. this could be a buying opportunity because things have drop add lot. >> well, stephanie, speaking of warren buffett hr, he had an op, sort of laying the idea that the've wealthy would throw a hissy fit, would not invest if they were to increase a couple of points. he wrote, so let's forget about the rich and ultra rich going on strike and stuffing their ample funds...
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so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on "andrea mitchell reports." a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... wi
so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on "andrea mitchell reports." a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the...
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>>guest: okay, warren buffett has made a lot of money, some of it off of gaming the political system, he invests in insurance companies, and lobbies to raise the death tax which drives people to buy insurance. okay? you can get rich playing that game but it is not investing, it is playing crony politics in economics. that is a shame. he has done the same thing with green investing. same on him for gaming the system and giving money to politicians who write rules that make your assets go up. the real economy, if he thinks the government can take a dollar and you go do an invest or who does not have that dollar and it does not infect investment that is silly unless he lands on going to obama and getting money from a stimulus package and he considers that investment. when the government takes a dollar away from the american people or $1 trillion, that is a trillion not available to be saved and invested, and i am sorry if buffett can't see that but that is silly. >>neil: do you worry, fairly or not, you have been seen as you unique wizard of oz figure who has been able to keep republican
>>guest: okay, warren buffett has made a lot of money, some of it off of gaming the political system, he invests in insurance companies, and lobbies to raise the death tax which drives people to buy insurance. okay? you can get rich playing that game but it is not investing, it is playing crony politics in economics. that is a shame. he has done the same thing with green investing. same on him for gaming the system and giving money to politicians who write rules that make your assets go...
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dagen: we will stay on the topic of warren buffett and taxes. should the cut off the $500,000 not $250,000 as the president wants. would that ease some of the burden and pain of higher taxes? >> on one level it would, of course. raising that threshold from $250,000 to $500,000. the buffet idea maybe release a little bit of pain, but does nothing to address the extortions that he is talking about. huge distortions. 160,000 pages of distortions in the tax code. you were talking about a tiny, tiny improvement. i will take it, sure. we are getting distracted on this one. dagen: connell was talking about a minimum tax on the wealthy. he starts out $1 billion a year. 30%. a good idea in the abstract? then he starts talking about his brother in. those are multi billionaires, dude. >> i mean, i think these are all legitimate questions. we have this great opportunity to do tax reform. to clean up the tax code. get rid of some of the provisions. should we give tax rates for second homes, for vacation homes? probably not. the reality is a lot of things lik
dagen: we will stay on the topic of warren buffett and taxes. should the cut off the $500,000 not $250,000 as the president wants. would that ease some of the burden and pain of higher taxes? >> on one level it would, of course. raising that threshold from $250,000 to $500,000. the buffet idea maybe release a little bit of pain, but does nothing to address the extortions that he is talking about. huge distortions. 160,000 pages of distortions in the tax code. you were talking about a...
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. >> before we get out of here, warren buffett, the op-ed in the "new york times" and we all know in the past he said he personally would welcome a tax hike. >> right. >> here is a snippet from this morning. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattress if gas, capital gains rates, and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. where is the room for the gop to continue to argue against taxing the rich at a higher rate. >> there really isn't for a whole host of reasons not the least of which is politically speaking it doesn't make sense. the study you talked about at the beginning, here is what a lot of people don't realize. for many americans the way they do christmas, they take out a loan. that's how they pay for christmas presents hoping the tax return that they get back, the money they get back from the taxes will be able to pay off that loan. that's how a lot of americans are living their lives. i think the republicans have got to recognize they can no lo
. >> before we get out of here, warren buffett, the op-ed in the "new york times" and we all know in the past he said he personally would welcome a tax hike. >> right. >> here is a snippet from this morning. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattress if gas, capital gains rates, and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. where is the...
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some people like warren buffett are willing to do that. it seems to me that's the price of admissions. if the only thing they mean when they say deficit reduction is cutting entitlements. it's about cutting entitlements. >> the same guys at the trough for a bailout are now experts on what we ought to do with entitlement programs in this country. i find that amazing. then mr. blankfein throws a scenario. people don't have 25-year careers. they have 40-year careers. and construction people when they get in their early 50s and worked for 30 years, their bodies are broken down. >> exactly. >> what are they supposed to do? hang around for another 15 until medicaid shows up? they are paying lip service. it's romney 2.0. that's all it is. so what should liberals in this country be prepared to accept at this point as you see it? >> i really think that we should go back to the clinton rates, which are still lower than they should be. that's where we ought to start. if people want to talk about tax reform, let them get specific. because there are ce
some people like warren buffett are willing to do that. it seems to me that's the price of admissions. if the only thing they mean when they say deficit reduction is cutting entitlements. it's about cutting entitlements. >> the same guys at the trough for a bailout are now experts on what we ought to do with entitlement programs in this country. i find that amazing. then mr. blankfein throws a scenario. people don't have 25-year careers. they have 40-year careers. and construction people...
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the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senators lindsey graham, saxby chambliss, congressman peter king among other republicans who said they'd be willing to break away from grover norquist's anti-tax pledge. will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal
the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to...
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warren buffett says $500,000 should be the threshold. why is the president saying it's $250,000 or i am not signing it? >> kimberly: it's campaign promises. that is his political ideolog ideology. instead of what is best for the country. >> eric: put you on the spot -- >> kimberly: the math shows it won't make a difference. why is he doing it in any way? because he said he would. not good enough reason. obligation to the country. >> bob: he said he wouldn't allow tax cuts to go for people making that money. i think that between that and entitlement reform you will get a deal. >> eric: let me ask this question. i call grover norquist, what is going on here? he said read between the lin lines. only when democrats put up their end of the bargain they would negotiate. if they do, they can change the rate and close a loophole and they will violate a no norquist pledge. should they? violate the pledge they won on and run on and may change the tune. >> dana: i never liked pledges about anything. i think when you get elec elected -- right. pledg
warren buffett says $500,000 should be the threshold. why is the president saying it's $250,000 or i am not signing it? >> kimberly: it's campaign promises. that is his political ideolog ideology. instead of what is best for the country. >> eric: put you on the spot -- >> kimberly: the math shows it won't make a difference. why is he doing it in any way? because he said he would. not good enough reason. obligation to the country. >> bob: he said he wouldn't allow tax...
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who are now paying so much less, paying what mitt romney paid, paying what warren buffett pays, 14 or 16%, because of capital gains and other investments, what about a minimum tax that would require them to pay 35%? >> the president has supported the buffet principle for a long time and his state of the union address last year, he supported buffet rule which would set a minimum tax for those who are the most wealthy. but we have a set of problems we need to address. and this requires a comprehensive solution and most importantly, we need to collect additional revenue from the most fortunate which includes raising tax rates to where they were during the clinton years. >> similarly, what about revisiting simpson-bowles? a lot of people are talking about the framework, a lot of work has been done, are there means testing, further means testing of medicare, for instance, or other kinds of delayed medicare enactment, you know, sliding the age, for instance, kicks in other ways to try to down the road at least realize some real money? >> well, i think the best solution would be one that not
who are now paying so much less, paying what mitt romney paid, paying what warren buffett pays, 14 or 16%, because of capital gains and other investments, what about a minimum tax that would require them to pay 35%? >> the president has supported the buffet principle for a long time and his state of the union address last year, he supported buffet rule which would set a minimum tax for those who are the most wealthy. but we have a set of problems we need to address. and this requires a...
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warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
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you're talking about the people who initially are going to get, teresa heinz kerry, warren buffett, people who have massive amounts of money. they're hit the hardest, right? >> absolutely. the proposal i wrote had an exemption for households up to $500,000 in wealth that, is exempting 80% of american households right there. >> how did you draw that line? i can imagine there is all kinds of cheating that is going to happen around that line. or even on the bentley. people are going to say it has dents and not worth very much money. how do you avoid that? >> we have a lot of cheating right now with income tax. so we might to have a higher exemption. we might to have to have slightly higher rates. i think overall fighting wealth inequality is so important. it is really wealth, not income that, affects your access to opportunity and our wealth inequality is so extreme that it's hurting our living standards in the long run. >> and 500,000, that was an arbitrary number. why did you pick that? >> well, like i said, it already exempts about 80% of american households. if you want to make a dent in
you're talking about the people who initially are going to get, teresa heinz kerry, warren buffett, people who have massive amounts of money. they're hit the hardest, right? >> absolutely. the proposal i wrote had an exemption for households up to $500,000 in wealth that, is exempting 80% of american households right there. >> how did you draw that line? i can imagine there is all kinds of cheating that is going to happen around that line. or even on the bentley. people are going to...
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and in today's times, i think warren buffett also suggested to raise it to $500,000, not $250,000. so that could be more palatable, too, to upper middle class people. they'll get a break up to $500,000. but it's very hard once you hit the million-dollar bracket to say, oh, no, no, we're going fro text those people. clearly these republicans are seeing the same poll numbers that obama is seeing, that this is not where the american people are right now. >> it's interesting you bring up the poll numbers. keith, let me bring you in on these. we know a exit poll combines. our first read team points out a republican pollster david winston says 61% say the better way to raise revenue is closing loopholes and reforming the tax code and they're seeing some republicans look at that particular poll over the one we've ma jorlly talked about, which is the exit polling. >> i wonder if these are the same republican pollsters who said romney is going to win in a landslide. >> touche, touche. >> you have to take this with grain of salt. the reality is the american people knew what barack obama was
and in today's times, i think warren buffett also suggested to raise it to $500,000, not $250,000. so that could be more palatable, too, to upper middle class people. they'll get a break up to $500,000. but it's very hard once you hit the million-dollar bracket to say, oh, no, no, we're going fro text those people. clearly these republicans are seeing the same poll numbers that obama is seeing, that this is not where the american people are right now. >> it's interesting you bring up the...
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Nov 22, 2012
11/12
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buffett, that's who will be hit the hardest? >> absolutely. the proposal had an exemption of proposals with up to $500,000 in wealth. that exempts most households right there. >> how did you draw that line? even on the bentley, people will say it has dents and it's not worst much. how do you have that? >> we have a lot of cheating with income tax and with a wealth tax, i'm sure people would try to cheat on that as well. we might have to have high slightly higher rates. but fighting wealth in equality is so important, bought that's what affect your opportunity and our wealth inequality is hurting were living standard in the long run. >> 500,000, why did you pick that? anything under that, you won't get taxed, above it, you are. >> it already exempts about 80% american households. if you want to make a debt in inequality, you have to have a progressive tax system, and this is a way to do it. >> let us know what you think. trying to be proactive here and help solve the problem. help those guys in washington now. >>> israel why and
buffett, that's who will be hit the hardest? >> absolutely. the proposal had an exemption of proposals with up to $500,000 in wealth. that exempts most households right there. >> how did you draw that line? even on the bentley, people will say it has dents and it's not worst much. how do you have that? >> we have a lot of cheating with income tax and with a wealth tax, i'm sure people would try to cheat on that as well. we might have to have high slightly higher rates. but...
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Nov 27, 2012
11/12
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. >>> billionaire investor warren buffett on monday i asked him about the fiscal cliff. here is part of that interview. >> what happens if the fiscal cliff comes and happens? what will it do to our economy? >> i don't think it will do that much. i think people will assume a solution will be found quite promptly. it's a little like the debt ceiling question. people know -- the rest of the world may think we're idiotic at times but don't think we're going to commit suicide. so i think if -- i hope something gets worked out before january 1st. if it goes a little bit beyond that, i don't think -- >> if it's january 10th -- >> if you guaranteed me that the fiscal cliff, we would go past that, i wouldn't sell a share of stock today. >> you have confidence that in the end they will fix it? >> and that this economy works. >> he is confident of a deal huh? >> he really does. he believes there's a possibility -- he thinks it will take some time. first thing he wants to see is a minimum tax, which they can do now in terms of people who make more than a million dollars, minimum tax
. >>> billionaire investor warren buffett on monday i asked him about the fiscal cliff. here is part of that interview. >> what happens if the fiscal cliff comes and happens? what will it do to our economy? >> i don't think it will do that much. i think people will assume a solution will be found quite promptly. it's a little like the debt ceiling question. people know -- the rest of the world may think we're idiotic at times but don't think we're going to commit suicide....
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Nov 29, 2012
11/12
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what about warren buffett's idea of the 30% minimum tax? because obviously, if you're worth hundreds of millions of dollars, you're going to have the best accountants and tax lawyers. what if you have just a flat 30% tax rate for millionaires and billionaires? is that -- is that a way forward? >> it's absolutely a way forward. and i think it should be part of any proposal. >> wait. and i said flat. i'm sorry, let me correct myself. i mean a minimum. we're talking about a minimum tax. if you make a million or more, it doesn't matter how you made it. you're going to be paying 30% to the government. >> and that is, in my mind, an absolutely important part of a proposal. it is about a $100 billion item plus or minus depending on what you're comparing it to. it makes a meaningful contribution to the $1.2 trillion we need, but you've got to do a lot of other stuff to still get there. >> to buffett's point, howard, the capital gains argument -- i said this in the earlier hour -- that somehow, by raising it from 15% to 28% in any way diminishes inv
what about warren buffett's idea of the 30% minimum tax? because obviously, if you're worth hundreds of millions of dollars, you're going to have the best accountants and tax lawyers. what if you have just a flat 30% tax rate for millionaires and billionaires? is that -- is that a way forward? >> it's absolutely a way forward. and i think it should be part of any proposal. >> wait. and i said flat. i'm sorry, let me correct myself. i mean a minimum. we're talking about a minimum...
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Nov 28, 2012
11/12
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as warren buffett has been saying for the last 24 hours, are you really going to turn down a good investment opportunity just because the tax rates are a little higher in we're talking about a minor 4 percentage point increase in the upper end of the tax rate here. it's not life or death. you know, cutting the deficit and raising taxes, if they can't agree, which congress has shown themselves inability to agree. if they're not going to agree, maybe it's not the worst thing in the world for tax rates to go up and for the deficit to be cut. i think that could result in a big economic boom. >> wow. >> and then, let's say two weeks after we go over the cliff, after the 1st of january, they then cut attacks for everybody -- >> but here's the problem with that notion. it's not fine. but, john, it's not fine because a lot of ordinary middle class people -- >> that's the problem. >> -- are trying to spend money at christmas and they're deeply anxious about what's going to happen in january. and these people don't appear to have any regard for the fact that the majority of americans agree with the pr
as warren buffett has been saying for the last 24 hours, are you really going to turn down a good investment opportunity just because the tax rates are a little higher in we're talking about a minor 4 percentage point increase in the upper end of the tax rate here. it's not life or death. you know, cutting the deficit and raising taxes, if they can't agree, which congress has shown themselves inability to agree. if they're not going to agree, maybe it's not the worst thing in the world for tax...
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Nov 26, 2012
11/12
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warren buffett renewing his call for a millionaire's tax. our next guest says you can raise taxes all day and not make a dent in the debt without doing one more thing. >>> later, the battle inside the democratic caucus. how ways and means senator levin explaining why democrats willing to jump off the cliff are making a huge mistake. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trad
warren buffett renewing his call for a millionaire's tax. our next guest says you can raise taxes all day and not make a dent in the debt without doing one more thing. >>> later, the battle inside the democratic caucus. how ways and means senator levin explaining why democrats willing to jump off the cliff are making a huge mistake. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from...
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Nov 26, 2012
11/12
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it comes on the same day warren buffett writing in the "new york times" in an op-ed saying rich is $500,000 a year, and let's tax them. let's have a 30% minimum tax for the income above $1 million of rich people. look what he said here. the "forbes" 400, wealthiest individuals in america hit a new group record. $1.7 trillion, more than five times the $300 billion total in 1992. he says you know, my gang has done pretty well. so leave the middle class alone. and so these two kind of the 1-2 punch from the white house perspective, at least, today on what we should be doing in debt talks. >> buffett is interesting. he said he doesn't think it will be that big a deal if we go off the cliff. >> he says don't worry about raising taxes on investments and income from investments. he said, i will do a good deal, because it's a good deal. not because my taxes are going to be a certain rate. so he has pounded this -- beat this drum for some time. but this is the white house, the latest from the white house on the fiscal cliff and how it would hurt the middle class. >> christine romans, great to see yo
it comes on the same day warren buffett writing in the "new york times" in an op-ed saying rich is $500,000 a year, and let's tax them. let's have a 30% minimum tax for the income above $1 million of rich people. look what he said here. the "forbes" 400, wealthiest individuals in america hit a new group record. $1.7 trillion, more than five times the $300 billion total in 1992. he says you know, my gang has done pretty well. so leave the middle class alone. and so these two...
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Nov 28, 2012
11/12
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warren buffett said 15.5% yesterday is coming in as revenue. i have heard lower figures. that is the reality of what has happened. we have seen a decline in tax revenue and an increase in spending for a variety of reasons. if we are serious about deficit reduction, we have got to move back the golden 19.6%. let's talk for a minute about what has happened. the chairman of the appropriation committee. let's take a look at where the art today compared to where we were in fiscal year 2001 when the federal government ran a $128 billion surplus. compared to the 2001 figure, we are spending less on non- security concessionary spending than we were. the growth in spending has not been in the non-defense discretionary. the cost of security programs in that same time period has gone up 60%. the cost of mandatory programs is up 30%. i want to call your attention to one aspect progressives need to remind people. of the $1.50 trillion already in spending cuts, $900 billion comes from spending. we have given far more than when it comes to defense side. let's talk about those for a minu
warren buffett said 15.5% yesterday is coming in as revenue. i have heard lower figures. that is the reality of what has happened. we have seen a decline in tax revenue and an increase in spending for a variety of reasons. if we are serious about deficit reduction, we have got to move back the golden 19.6%. let's talk for a minute about what has happened. the chairman of the appropriation committee. let's take a look at where the art today compared to where we were in fiscal year 2001 when the...
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Nov 28, 2012
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in fact, this morning we spoke with warren buffett about this very issue. he thinks there's a real chance we will get some sort of a deal but maybe not necessarily by december 31st. he thinks the middle of the party could work out a deal. they will go kicking and screaming and if the leadership feels they will lose their leadership position, that could make them drag their heels as well and not get a deal as quickly. if we go over december 31st, we'll see what happens with the markets at that point. >> dow 8,000. becky quick, sorry. thank you. >> reporter: thank you. >> up next, are republicans and conservatives on the verge of a breakup? >>> the republican party needs conservatives but do conservatives need the republican party? today we're taking a deep dive into where the two overlap and where they don't. go back to this past spring, just a month or so after mitt romney secured the nomination. author and veteran craig shirley wrote something that caught a lot of our eyes saying the party itself had about become nothing more than what suits the cause at t
in fact, this morning we spoke with warren buffett about this very issue. he thinks there's a real chance we will get some sort of a deal but maybe not necessarily by december 31st. he thinks the middle of the party could work out a deal. they will go kicking and screaming and if the leadership feels they will lose their leadership position, that could make them drag their heels as well and not get a deal as quickly. if we go over december 31st, we'll see what happens with the markets at that...
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Nov 27, 2012
11/12
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let's make a pledge to warren buffett. how about that one. >> announcer: this is the "bill press show." >> bill: hey, good morning everybody. welcome to the "full court press" here on current tv. this tuesday morning. november 27. so good to see you. thank you for joining us here on the "full court press." as we tackle the big stories of the day. tell you what's going on here in our nation's capital. around the country around the globe and take your calls, of course. you're part of the conversation. we'll hear from you. how about this. with less than a month since president obama's re-election people are already talking about 2016 and here's the good news. newt gingrich yesterday said that he will seriously consider running again. keep your fingers crossed. i mean he made such a total ass of himself this time around, we can only hope that he does it all over again. to the moon! with newt! all right. that's just one of the many topics we'll be covering here on today's "full court press." but first, we start out with the lat
let's make a pledge to warren buffett. how about that one. >> announcer: this is the "bill press show." >> bill: hey, good morning everybody. welcome to the "full court press" here on current tv. this tuesday morning. november 27. so good to see you. thank you for joining us here on the "full court press." as we tackle the big stories of the day. tell you what's going on here in our nation's capital. around the country around the globe and take your...
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Nov 28, 2012
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we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and, andrea, a bigger question, as we go to a new congress, is john mccain going to continue to have the disproportionate impact that he has on foreign policy in the republican senate caucus? mika and i talked to so many people over the past two, three years that say we want, republican senators, we want out of afghanistan but, you know what, we just sort of stay out of john's way. how many times have we heard that? >> a lot. it's disturbing. >> we hear it all the time. they stay out of his way. are they going to blindly follow and, again, i l
we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and,...
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Nov 26, 2012
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and in today's "new york times" warren buffett calls for a, quote, minimum tax for the wealthy writing let's not forget about the rich and ultra rich going on strike. capital gains rates and ordinary income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. buffett calls for the cutoff point to increase from $250,000 to $500,000, by the way. defensem democrats are facing pressure from interest groups who oppose changes to medicare and social security like this one from the aarp. >> some politicians think medicare and social security are just numbers in a budget. well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future of these programs into a last-minute budget teal, we'll all pay the price. >> and there's your potential pressure from the left. gop negotiators have put adjusting the measure of inflation which determines social security benefits back on the table, something the president had agreed to in 2011. majority leader harry reid has ruled that out this time and the number two
and in today's "new york times" warren buffett calls for a, quote, minimum tax for the wealthy writing let's not forget about the rich and ultra rich going on strike. capital gains rates and ordinary income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. buffett calls for the cutoff point to increase from $250,000 to $500,000, by the way. defensem democrats are facing pressure from interest groups who oppose changes to medicare and...
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Nov 28, 2012
11/12
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jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a trading blunder. cyber monday could almost be re- named "mobile monday." a growing number of consumers used their smartphones and tablets to shop on cyber monday this year. it contributed to an overall bump in sales of 30% from last year. comscore is estimating that sales will reach a whopping 1.5 billion dollars. amazon's kindle fire was the day's most searched-for gift on the web. others that were high in demand were uggs, ipads, the ipod touch, legos, and the wii. some consumers did not get what they bargained for this cyber monday. 132 websites in the u.s. and europe were shu
jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a...
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. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the floor. >> i'm more positive than most. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for americ
. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the...
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Nov 26, 2012
11/12
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warren buffett saying this week to the president effectively, my words, not his, don't give in here. don't give in on taxes. threaten to go over the fiscal cliff. it's not going to kill the economy any worse. how does the president work his will here? how does he get to the kind of compromise that david cody wants and other ceos, while still saying i've won this election and i need to drive things in the direction i think is best? >> i think he's got to govern by the commitments made during the campaign. and i think he will. this is about fairness. why do we need to deal with the tax on the rich first? because we must assure americans we are dealing with fairness. we keep talking about shared sacrifice. there was not shared wealth and shared prosperity. so you're asking people that didn't enjoy the good times to share in paying for the tab that they never enjoyed. so i think that when we first deal with the taxes, as you raised in your first point, and then go from there talking about how we deal with entitlements and all, you have a fairer environment to govern from. but you can't p
warren buffett saying this week to the president effectively, my words, not his, don't give in here. don't give in on taxes. threaten to go over the fiscal cliff. it's not going to kill the economy any worse. how does the president work his will here? how does he get to the kind of compromise that david cody wants and other ceos, while still saying i've won this election and i need to drive things in the direction i think is best? >> i think he's got to govern by the commitments made...
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Nov 27, 2012
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. >> reporter: the president's tax plans got some support from legendary investor warren buffett today. writing in the new york times, buffett says higher taxes won't lead the wealthy to go on strike and give up promising investment opportunities. darren gersh, "n.b.r.," washington. >> tom: talk of the fiscal cliff threat didn't seem to hurt cyber monday, the biggest online shopping day of the year. americans are expected to spend $1.5 billion online today according to research firm comscore. that's up 20% from last year, as retailers pull out all the stops to get shoppers to click on their websites. erika miller has more. >> reporter: many americans were hard at work today. but others were hardly working-- using high speed office computers to scour the internet for bargains. others browsed at retail stores, but used mobile phones and tablets to make their purchases online. >> but internet shopping is more than just price comparison this year. it's about going shopping with friends and family even when they're not there. >> it makes them feel better about shopping when they are accessi
. >> reporter: the president's tax plans got some support from legendary investor warren buffett today. writing in the new york times, buffett says higher taxes won't lead the wealthy to go on strike and give up promising investment opportunities. darren gersh, "n.b.r.," washington. >> tom: talk of the fiscal cliff threat didn't seem to hurt cyber monday, the biggest online shopping day of the year. americans are expected to spend $1.5 billion online today according to...